The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-04-13
WEEKLY REVIEW OF TRADE
General Business Fairly Active-MOney
enerally Tn Good supply.


New YORK, April S.-R c. Dun & Co
in their weekly review Of trade, say: The
interstate commerce act causes quite as
Shipments in the aggregate enormous for
distribution beyond Chicago have to be re-
billed there; merchants and manufact-
urers find rates raised from 80 to so per
cent on many distant shipments; Pacific
lines complain that the trans-Coutinental
traffic is rendered impossible unless they
are exempted. The association of twenty
seven Southern roads have already obtained
temporary exemption because of coDse-
quent interruption OF traffic. Northern
lines, competing with lake or Canadian
transporters, claim equal needs, and interior
roads cite large shipments of flour down
the Mississippi. because through RAILROAD
freights are raised. Coal rates increase the
cost of fuel 81 per ton about Philadelphia.
Changes in iron freights disturb the trade,
and nay close some furnaces. These are
but few OF the difficulties which the COM
mission is expected to examine and in
how far is il able?
General business is fairly active, though
dizziness is the complaint at some points.
The output of iron for the first quarter of
1887 is reckoned at 1.66S 036 tons, which is
at rate of 10 6 per cent. over last years
production. Yet present demand is slack.
New Orleans finds freight handling en-
barrassed by labor dissentions and trade is
dull there, at Mobile and Montgomery;
active at Birmingham; improving at Louis
vile, except in dlstilling, and quite hope
full at Milwaukee, since the defeat OF the
Labor ticket.
Money is generally in good supply,
though growing scarce at Cleveland and
needed at Milwaukee on account OF slow
collections. From most points, collections
are reported reasonably prompt.
There is growing real estate speculation,
especially at Cincinnati and Louisville, and
at other Western cities and new manufac-
turing centers at the South. Not a few
prudent men doubt whether there is not
an undue expansion of credits, resulting
from speculative activity, and caution in
that direction is certainly warranted.
In the greater markets speculation is
spasm odic. Wheat has advanced 1 cent,
corn and oats change little, hogs and lard
are lower, oil has taken spasm of activity
for two days, but closes less than 1c higher
than last week, tin RECEIVERS little after
decline, and copper, iron, sugar and wool
are unchanged. Coffee has risen &c and
)tton 1-16c. Stocks declined sharply when
Wall street realized that the long expected
disturbances in consequence OF the inter-
state act had actually commenced, and
then recovered llLLle on SUSPENSION OI the
act by the commission in favor OF the
Southern roads. Flurries of stringency in
the money market have continued, but
the Treasury has poured out 81 200, 900 gold
during the week, 100000 silver, and
s., SOC, 900 legal tenders in excess of its
receipts. Its rapid imitation of currency
prevents pressure, but contributes to the
expansion of credits already noticed.
Foreign exchange has been undis-
turbed and no fear of exports
of specie is felt. Exports Of produce con-
tinue at its factory and the enormous reve-
nue. OF the Government for March, greater
than for any other month in many years,
is evidence of business activity, though it
shows how considerable the contraction OF
currency must be after July /, unless the
treasury consents to pay a high premium
for bonds not due.
The business failures during the last seven
days number: For the United States, l9o